In compliance with the Central Bank of Kenya (CBK) requirements introduced in July 2014, all Kenya Shilling denominated loans have been priced relative to a uniform base rate known as the Kenya Banks’ Reference Rate (KBRR) effective on or before 1st July 2015. As such, please note that the interest rate on these loans is indexed to the KBRR and will be changed as and when the KBRR rate is revised by the Central Bank of Kenya.
Following the Monetary Policy Committee meeting held on 7th July 2015 the Central Bank of Kenya (CBK) has set KBRR at 9.87% from 8.54%. Please note that the interest charge on all loans will be adjusted in line with the KBRR increase of 1.33%. This will take effect from 6th August, 2015. Click here for more information on KBRR.
Should you have any queries regarding this, please contact our Customer Contact Centre on; 020-288 217, 0711 041 111, 0732 141 111, SMS 20488 or email Customercare@nic-bank.com.